Coronavirus’ effect on Commodity
Dependent Countries
By Isaiah Sparks
What is a Commodity
Dependent Country?
• Figure 1: Commodity Dependency Chart
• Figure 2: Commodity Dependency Map
Minerals
17%
Non-Commodities
46%
Energy/Oil
17%
Agriculture
20%
(UNCTAD, 2019)
(UNCTAD, 2019)
Coronavirus’ effect on the Commodities Market
• Figure 3: Oil Consumption and Production
• Figure 4: Commodity Price trends
Oil Demand and the changing economy
• Figure 5: Oil Demand Outlook
(Brady & Meyer, 2021)
Commodity Dependent
Countries Debt
• Figure 6: CDCs debt chart
(Gelpern, Hagan, & Mazarei, 2020)
• Figure 7: Debt to GDP in CDCs
(United Nations Conference on Trade and Development, 2019)
Moving Forward
• Figure 8: CDCs income group distribution
(United Nations Conference on Trade and Development, 2019)
References
Brady, A., & Meyer, J. (2021, January 25). Top issues for oil markets and mobility in 2021 after a
tumultuous year. Retrieved from ihsmarkit.com: https://ihsmarkit.com/research-analysis/topissues-for-oil-markets-and-mobility-in-2021.html
Gelpern, A., Hagan, S., & Mazarei, A. (2020, April 7). Debt standstills can help vulnerable governments
manage the COVID-19 crisis. Retrieved from www.piie.com:
https://www.piie.com/blogs/realtime-economic-issues-watch/debt-standstills-can-helpvulnerable-governments-manage-covid
Gottschalk, R. (2003). Why it Can Be Economically and Morally Rewarding to Invest in Developing
Countries. Brighton: Institute of Development Studies, University of Sussex.
Hodari, D., & Boston, W. (2021, March 17). Gasoline Deman Has Peaked, Global Forecaster Says.
Retrieved from The Wall Street Journal: https://www.wsj.com/articles/never-mind-peak-oilglobal-forecaster-calls-peak-gasoline-11615988228
References
Nagel, P., & John, B. (2020, November 02). COVID-19 hit commodities hard - these 8 charts show what
we can expect. Retrieved from weforum.org:
https://www.weforum.org/agenda/2020/11/commodity-markets-economics-charts-oil-energymetals-gold-food-covid-19-coronavirus-pandemic/
UNCTAD. (2013). Facts and figures on commodities and commodities trade. Retrieved from unctad.org.
UNCTAD. (2013, March 13). Facts and figures on commodities and commodities trade. Retrieved from
unctad.org: https://unctad.org/press-material/facts-and-figures-commodities-and-commoditiestrade
UNCTAD. (2015, April 17). Magnitude of commodity dependence among developing countries revealed
by new UNCTAD guide. Retrieved from unctad.org: https://unctad.org/pressmaterial/magnitude-commodity-dependence-among-developing-countries-revealed-newunctad-guide
UNCTAD. (2019, April 16). Commodity-dependent countries urged to diversify exports. Retrieved from
unctad.org: https://unctad.org/news/commodity-dependent-countries-urged-diversify-exports
UNCTAD. (2019, May 20). We must help developing countries escape commodity dependence. Retrieved
from unctad.org: https://unctad.org/news/we-must-help-developing-countries-escapecommodity-dependence
United Nations Conference on Trade and Development. (2019, October 15). State of Commodity
Dependence 2019. Retrieved from unctad.org: https://unctad.org/system/files/officialdocument/ditccom2019d1_en.pdf
World Bank. (n.d.).
World Bank. (2020, January). Borrow with Sorrow? The Changing Risk rofle of Sub-Saharan Africa's Debt.
Retrieved from worldbank.org: